National Grid eyes UK retail market for linker

31 Aug 2011

National Grid will hold a roadshow next week for a possible retail-targeted bond — the first true corporate issue in the UK’s revived retail debt market. If a deal comes, it will also be unusual among retail bonds in being index-linked.

Rated Baa1/A- with stable outlooks, though some subsidiaries have higher ratings, National Grid operates the UK’s high voltage electricity and high pressure gas transport networks, and owns electricity and gas distribution businesses in the northeastern US.

Barclays Capital and Evolution Securities are arranging the roadshow, which will take in ...

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